Daily Briefing · 2026-10-13

The KOSPI plunged 5.46 percent, barely defending the 6000 line, and 800 trillion won in market capitalization evaporated. As China's ChangXin Memory Technologies, CXMT, announced next-generation server DRAM technology, SK Hynix plummeted more than 10 percent and Samsung Electronics fell 7.4 percent. Foreign investors net sold 4.5 trillion won in a single day, and the Korean stock market recorded the largest decline among major Asian countries. Interestingly, despite Samsung Electronics posting a record-high operating profit of 107 trillion won, the foreign ownership stake fell to 46 percent, the lowest since the financial crisis. A clear divergence phenomenon emerged, with earnings and stock prices moving in opposite directions. Meanwhile, the IMF significantly raised its growth forecast for Korea this year from 2.6 percent to 3.3 percent. It cited strong demand for semiconductors and AI hardware, and a forecast also emerged that Korea would surpass the US growth rate for the first time in 4 years. International oil prices continued to rise for a 3rd consecutive trading day as risks in the Middle East region grew. The Bank of Korea governor stated that the bank would maintain its tightening stance until inflation reaches the 2 percent target. In the financial sector, Shinhan Financial completed its acquisition of a 77 percent stake in Lotte Non-Life Insurance for 693.3 billion won, but the burden of additional capital expansion remains. In the Samsung family, Honorary Director Hong Ra-hee decided to gift Samsung Electronics shares worth 2.6 trillion won to Chairman Lee Jae-yong. The gift tax alone is expected to reach 1.56 trillion won. Financial security issues also continued. Chained hacking attacks occurred at Saemaul Geumgo and OK Savings Bank, leaking the personal information of around 400 people. In political circles, the ruling and opposition parties clashed over the adoption of the Samsung and SK chairmen as witnesses for the National Assembly audit in connection with the 800 trillion won Honam semiconductor project. In the real estate market, the government is pushing forward a plan to raise the floor area ratio of the 3rd-phase new towns to 300 percent, adding a supply of 64,000 households. Coupang agreed to pay the largest-ever fine of 624.7 billion won, imposed for a personal information leak, in installments over 2 years. At POSCO, partial strikes continued due to delays in wage negotiations, prompting the government to step in to mediate.